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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 332,819 $ 321,163
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 299,108 299,508
Amortization of deferred financing costs and debt premiums 10,962 9,754
Amortization of above and below market lease intangibles, net (16,662) (17,383)
Stock-based compensation, net of capitalization 14,817 18,829
Equity in income of investments in real estate partnerships (43,378) (37,763)
Gain on sale of real estate, net of tax (6,005) (33,844)
Provision for impairment of real estate, net of tax 4,636  
Loss on early extinguishment of debt   180
Distribution of earnings from investments in real estate partnerships 47,699 49,987
Deferred compensation expense 1,960 3,615
Realized and unrealized gain on investments (2,681) (4,439)
Changes in assets and liabilities:    
Tenant and other receivables (2,196) (8,736)
Deferred leasing costs (13,776) (7,643)
Other assets (13,242) (10,738)
Accounts payable and other liabilities 11,983 13,881
Tenants' security, escrow deposits and prepaid rent (2,300) 2,442
Net cash provided by operating activities 623,744 598,813
Cash flows from investing activities:    
Acquisition of operating real estate, net of cash acquired of $4,273 and $14,143 in 2025 and 2024, respectively (103,502) (45,205)
Real estate development and capital improvements (307,282) (235,284)
Proceeds from sale of real estate 51,084 103,626
Proceeds from property insurance casualty claims   5,257
Issuance of notes receivable (176) (32,651)
Collection of notes receivable 479 3,052
Investments in real estate partnerships (12,399) (25,771)
Return of capital from investments in real estate partnerships 12,162 12,859
Dividends on investment securities 1,232 296
Purchase of investment securities (99,770) (99,035)
Proceeds from sale of investment securities 53,461 103,785
Net cash used in investing activities (404,711) (209,071)
Cash flows from financing activities:    
Net proceeds from common stock issuance 49,162  
Tax withholding on stock-based compensation (6,783) (8,776)
Common shares repurchased through share repurchase program   (200,066)
Redemption of exchangeable operating partnership units (2,046)  
Proceeds from sale of treasury stock 462 210
Contributions from noncontrolling interests 10,699 6,533
Distributions to and redemptions of noncontrolling interests (37,175) (9,435)
Distributions to exchangeable operating partnership unit holders (2,299) (2,215)
Dividends paid to common shareholders (383,267) (368,999)
Dividends paid to preferred shareholders (10,239) (10,239)
Repayment of fixed rate unsecured notes   (250,000)
Proceeds from issuance of fixed rate unsecured notes, net of debt discount 397,116 722,860
Proceeds from unsecured credit facilities 510,000 527,419
Repayment of unsecured credit facilities (545,000) (649,419)
Proceeds from notes payable 10,000 12,000
Repayment of notes payable (54,130) (110,862)
Scheduled principal payments (7,983) (8,716)
Payment of financing costs (3,839) (16,560)
Net cash used in financing activities (75,322) (366,265)
Net increase in cash and cash equivalents and restricted cash 143,711 23,477
Cash and cash equivalents and restricted cash at beginning of the period 61,884 91,354
Cash and cash equivalents and restricted cash at end of the period 205,595 114,831
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $7,302 and $4,812 in 2025 and 2024, respectively) 154,783 137,367
Cash paid for income taxes, net of refunds 1,125 7,114
Supplemental disclosure of non-cash transactions:    
Common and Preferred stock, and exchangeable operating partnership dividends declared but not paid 133,451 126,085
Right of use assets obtained in exchange for new operating lease liabilities   1,271
Sale of leased asset in exchange for net investment in sales-type lease   2,846
Acquisition of operating real estate / previously unconsolidated real estate investments:    
Exchangeable operating partnership units issued for acquisition of real estate 199,662  
Change in accrued capital expenditures 16,032 8,837
Stock-based compensation capitalized 1,733 1,383
Contributions to investments in real estate partnerships 783 18,242
Contributions from limited partners in consolidated partnerships 2,211 7,891
Operating Real Estate    
Acquisition of operating real estate / previously unconsolidated real estate investments:    
Acquired lease intangible assets 55,081  
Notes payable assumed in acquisition, at fair value 166,480  
Intangible liabilities, Accounts payable and other liabilities 23,198  
Unconsolidated Real Estate Investments    
Acquisition of operating real estate / previously unconsolidated real estate investments:    
Acquired lease intangible assets 10,356  
Notes payable assumed in acquisition, at fair value 28,527  
Intangible liabilities, Accounts payable and other liabilities 6,216  
Acquisition of real estate assets 24,747  
Partnership Interest [Member]    
Cash flows from operating activities:    
Net income 332,819 321,163
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 299,108 299,508
Amortization of deferred financing costs and debt premiums 10,962 9,754
Amortization of above and below market lease intangibles, net (16,662) (17,383)
Stock-based compensation, net of capitalization 14,817 18,829
Equity in income of investments in real estate partnerships (43,378) (37,763)
Gain on sale of real estate, net of tax (6,005) (33,844)
Provision for impairment of real estate, net of tax 4,636  
Loss on early extinguishment of debt   180
Distribution of earnings from investments in real estate partnerships 47,699 49,987
Deferred compensation expense 1,960 3,615
Realized and unrealized gain on investments (2,681) (4,439)
Changes in assets and liabilities:    
Tenant and other receivables (2,196) (8,736)
Deferred leasing costs (13,776) (7,643)
Other assets (13,242) (10,738)
Accounts payable and other liabilities 11,983 13,881
Tenants' security, escrow deposits and prepaid rent (2,300) 2,442
Net cash provided by operating activities 623,744 598,813
Cash flows from investing activities:    
Acquisition of operating real estate, net of cash acquired of $4,273 and $14,143 in 2025 and 2024, respectively (103,502) (45,205)
Real estate development and capital improvements (307,282) (235,284)
Proceeds from sale of real estate 51,084 103,626
Proceeds from property insurance casualty claims   5,257
Issuance of notes receivable (176) (32,651)
Collection of notes receivable 479 3,052
Investments in real estate partnerships (12,399) (25,771)
Return of capital from investments in real estate partnerships 12,162 12,859
Dividends on investment securities 1,232 296
Purchase of investment securities (99,770) (99,035)
Proceeds from sale of investment securities 53,461 103,785
Net cash used in investing activities (404,711) (209,071)
Cash flows from financing activities:    
Net proceeds from common stock issuance 49,162  
Tax withholding on stock-based compensation (6,783) (8,776)
Common shares repurchased through share repurchase program   (200,066)
Redemption of exchangeable operating partnership units (2,046)  
Proceeds from sale of treasury stock 462 210
Contributions from noncontrolling interests 10,699 6,533
Distributions to and redemptions of noncontrolling interests (37,175) (9,435)
Distributions to partners (385,566) (371,214)
Dividends paid to preferred shareholders (10,239) (10,239)
Repayment of fixed rate unsecured notes   (250,000)
Proceeds from issuance of fixed rate unsecured notes, net of debt discount 397,116 722,860
Proceeds from unsecured credit facilities 510,000 527,419
Repayment of unsecured credit facilities (545,000) (649,419)
Proceeds from notes payable 10,000 12,000
Repayment of notes payable (54,130) (110,862)
Scheduled principal payments (7,983) (8,716)
Payment of financing costs (3,839) (16,560)
Net cash used in financing activities (75,322) (366,265)
Net increase in cash and cash equivalents and restricted cash 143,711 23,477
Cash and cash equivalents and restricted cash at beginning of the period 61,884 91,354
Cash and cash equivalents and restricted cash at end of the period 205,595 114,831
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $7,302 and $4,812 in 2025 and 2024, respectively) 154,783 137,367
Cash paid for income taxes, net of refunds 1,125 7,114
Supplemental disclosure of non-cash transactions:    
Common and Preferred stock, and exchangeable operating partnership dividends declared but not paid 133,451 126,085
Right of use assets obtained in exchange for new operating lease liabilities   1,271
Sale of leased asset in exchange for net investment in sales-type lease   2,846
Acquisition of operating real estate / previously unconsolidated real estate investments:    
Exchangeable operating partnership units issued for acquisition of real estate 199,662  
Change in accrued capital expenditures 16,032 8,837
Stock-based compensation capitalized 1,733 1,383
Contributions to investments in real estate partnerships 783 18,242
Contributions from limited partners in consolidated partnerships 2,211 $ 7,891
Partnership Interest [Member] | Operating Real Estate    
Acquisition of operating real estate / previously unconsolidated real estate investments:    
Acquired lease intangible assets 55,081  
Notes payable assumed in acquisition, at fair value 166,480  
Intangible liabilities, Accounts payable and other liabilities 23,198  
Partnership Interest [Member] | Unconsolidated Real Estate Investments    
Acquisition of operating real estate / previously unconsolidated real estate investments:    
Acquired lease intangible assets 10,356  
Notes payable assumed in acquisition, at fair value 28,527  
Intangible liabilities, Accounts payable and other liabilities 6,216  
Acquisition of real estate assets $ 24,747